I've never had a real estate agent tell me it's a bad time to buy real estate either!

What? A watch seller saying we should buy a watch? What?

@krawk8838

3 ай бұрын

its because he hasn't been making money apparently he owes a lot of money too and has a big coke addiction LOL

@Voltanaut

3 ай бұрын

@@krawk8838 How did you learn that?

@yudeechang

3 ай бұрын

😂😂😂

@michaelhughes3302

3 ай бұрын

​@@krawk8838Buy property if you can afford it. Fcuk me, buy in as an investor. These are monumental better ways to spend your money.

@Lovemy911

3 ай бұрын

Mans a 🤡...

Range rovers, Porches, Caravans, you can find videos talking about all of these bull markets crashing. People had money as they couldn't spend on a holiday, couldn't spend on other stuff easily, and low interest rates. Let's remember, people invested in digital monkey artwork nfts. Inflation caused by quantitative easing, ( also the reason cash was flowing so easily) led to interest rates going up, disposable cash squeeze, the bubbles in prices pop. I still don't think we have hit the bottom yet, as thousands of Rolexes in the UK sit in secondary market unsold. I've been following a Daytona at my local jewellers, selling on consignment. I tried it on at 30k, but have watched it get reduced 4 times, now sat in window at £20k.

Went up due to free money, "investment class" idea, crypto and Chinese demand. Went down due to Chinese demand drop and Interest rate impact.

There is never “production issues”. Rolex could meet the demand for every model in 3 months.

People buy a car for £100 k and loose £50 k in a year ,but worry about loosing £2 k on a watch.keep the watch and you can enjoy it for life and won't lose money but the car will eventually be sold for scrap.

@twentyfour4222

3 ай бұрын

Cars can actually be used to do something unlike watches. Stupid comparison.

@floridaboybrandon954

3 ай бұрын

@@twentyfour4222 you can be anywhere in the world and liquidate your watch Imagine you’re in a diff country and they don’t accept your type of credit card and your bank doesn’t exist there ! Your Swiss luxury watch is the one thing that you can get money for in less than a hour ! You can’t take your car everywhere with you! Not overseas , not on a plane etc ! You literally have a savings account / cash reserve that’s valuable anywhere in the world on your wrist ! Also many many luxury cars actually come with a watch that you can remove from the dash ! Vacheron , AP, Breguet , Richard Mille come with certain cars and built in to the dash

@dinamiena6186

3 ай бұрын

You are right

@GretaBeth

2 ай бұрын

@@twentyfour4222So watches don’t tell time?! 🤔 It’s basic depreciation. He is right. It’s the same with a boat or house. They are either appreciating or depreciating assets. If it depreciates very little, or even holds it’s value, and you love it daily, there’s nothing to feel bad about!

@twentyfour4222

2 ай бұрын

@@GretaBeth yes it tells the time but is telling the time as important as a car? No. You can use literally a million other ways to know the times other than buying a watch worth thousands of dollars. So it is purely a luxury. Stupid to compare them with cars that can actually be useful. I own expensive watches and i love them but I always see this comparison and it’s so stupid.

Something you didn't mention, is that after a period where people were buying watches like crazy, who actually needs to buy a watch right now? Those once a decade purchasers all bought watches at the same time and so now there's a lack of those kind of customers dripping into the market gradually to keep it ticking over.

It was not just the luxury watch market. It also happened in the art market. A Banksy print worth 10K previously jumped up to 30K. That market too has also fallen flat on its face and has dropped back to pre covid values. Lucky to those who sold high. I want a submariner and I doubt I will get the call from an AD for one but am loathe to pay the still too high grey market prices.

Prices will tank again and again…you should wait for discounts or for prices way under retail on the secondary market.😤I bought my explorer 1 from an AD with a discount back in the day 👍

@jrgb9945

3 ай бұрын

Most unlikely they will go a lot lower.

Best one yet Phil! 👏🏻

Great video on the macro economics of watches!

Rolex is building a new factory, which once operational will more than double the yearly production output. When that happens, Rolex secondary market prices will tank.

How much is a olive day date today ???

Hey Phil , really nice video ! I was wondering if I could help you with more Quality Editing in your videos and also make a highly engaging Thumbnail which will help your videos to reach to a wider audience ?

We can hope for it yes

It’s not that complicated! The interest rates are high, so all asset classes are dipping. Luxury goods are first ones to drop & will continue to drop in future until the interest rates are above 2%

Dealers took advantage of the common person’s naivety and inexperience around what watches actually are and sold them as investments instead of watches. In the end the dealers will have profited well and still will have more opportunities to buy stock cheaper and profit even more as prices drop and those fooled into believing watches are investments panic and sell. Only really really greedy dealers will lose as prices on watches they purchased at the height of the hype will carry losses on them if they wasn’t sold before the huge drop came.

It's a great time for watch lovers as they are now able to purchase watches at a fair price. So watch lovers and collectors are still buying watches, investors are not buying watches 😊

Nothing about dealers selling watches to each other for £350 profits over and over again in what’s app groups, driving the prices up during the pandemic.

Luxury items suffer most in recession, the price will continue to fall in the coming months. It is not the time to buy expensive watches now. It is time to go back to the real watch world i.e. pre-2015, where used watches were cheaper than new watches.

@horawatches1273

3 ай бұрын

Not overly true, those that could afford, still can and often people treat themselves in recession, only difference is, it will be a credit purchase

After a few more official price increases and inflation the price will be up a couple of clicks, its been like that for the past 40 years.My first 16014 cost £950

Most modern used watches should drop in price, used products should be less than brand new. They were never supposed to be investments. They should be purchased because you like them ans want to enjoy them and care about horology. Most things that we purchase in life will be worth less after we use and enjoy them, the fact that you can even retain value at what you paid retail should be a win in itself, people shouldn't expect to make profit on a material item purchased at a retail store.

I just hope that dealers/flippers that got watches at the peak thinking of selling for even more end up just keeping dozens of them or just sell them at a loss

Who buys watches as investment? Buy a watch and beat it. That’s wealth

As a business man time is very important to me. And the comparison was a financial issue

Interest rates were zero so money in the bank was pointless let’s buy watches that are rising then the banks upped interest rates so speculators dumped watches..

Interest rates

Here’s the game - oh look I just made 100k on Bitcoin and don’t want to pay taxes on said money - oh wow watch dealers are accepting crypto that I can….launder….my now tax free gains into and worst case sell it for cash down the road

How many times in the past 2 years have we heard this?!!! A ton! Do not buy a Rolex above MSRP and for some models of Rolexes, I would not buy without some discount. Discount will be hard to get but if you are patient, it will happen. The public's taste and FOMO change all the time. Younger generation, teenagers to early 30's, don't care about wrist watches. I tried to give my young cousins a wrist watch, watches worth approx $500, and they refused because they don't wear watches.

Very interesting video. You missed the most important element. Crypto. All the artificial surge in 2021 was because of the crypto bull run. Young guys becoming rich in crypto and wanting to secure it in tangible assets. All the remaining arguments you have stay true, but maybe 40% of the price increase is due only to the crypto market.

@realalexmackenzie

3 ай бұрын

Looks like we may be headed back to a crypto bull run. Time to secure some Rolex watches at RRP and wait for the surge.

Black t-shirt , green shirt and Pepsi GMT...I think you should understand that you wear wrong here :D

Just like DeBeers controls the prices of diamonds and Porsche learned they could build fewer cars and sell for more per car and still make massive profits. Rolex has never been a good deal ever. Simply not worth the huge price tag for a wristwatch.

I bought a date sub in 2012 for 3k discount at the AD. I feel like I paid 4-5k

Buy a watch you like because you might have to have it for a couple of years?.....whos to blame for the BUllSHT prices......I think we know.

I don’t own a Rolex watch and won’t ever pay inflated prices good luck to everyone but spending so much money for a watch is utter madness. Invest in property or other asset classes for an investment not luxury watches.

@user-bo2rb8cl1s

3 ай бұрын

if I had invested in watches in 2022, I would have saved my capital, but I invested in real estate, now my real estate costs 30% less. although I bargained, bought at the best prices. Real estate is also an equally risky asset; if you want to make money on it, there are many nuances. if you are buying for yourself, for life, it is a different story.

So basically covid and the rise of influencers pushed the market up, much like with the Pokemon card boom in 2021. Difference is watches have crashed (and everyone in the comments seems to think they'll keep crashing and never recover), but bloody pokemon still costs a fortune. Some vintage products cost 10x what a steel GMT Rolex cost. In other words, everything wrong with the economy is because of covid and influencers 😂

holy crap complete 0 financial knowledge. Rolex and assets went down because fed rates went up. If your thesis is rate cuts are going to happen (it shouldnt be) then prices for rolex would go up. No way fed cuts rates 3 times this year as the market predicts given inflation indicators. Maybe next year.

Equilibrium does not exist

INFLATION! PEOPLE CAN'T AFFORD TO FLIP PLUS ROLEX AD'S HAVE WATCHES!

Never in a million years would I ever buy a Rolex,they way they treat customers is awful..

@robtudor3785

3 ай бұрын

Please explain how Rolex has treated you badly?

@RegNarnoc21

3 ай бұрын

@@robtudor3785 I don’t need to explain anything to anybody.

@samuelburton5576

3 ай бұрын

​@@robtudor3785 exactly. The AD experience may have been awful but that's not Rolex per say.

sorry phil this is wrong analysis

.....................FUD......................

Is this a joke? Buy a Rolex when it's nearly impossible for most people.

Buy now if you want to lose money . Rolex and the ADs have pissed off real Rolex fans. Prices are dropping and will drop further. The hype is over and the customer base has shrunk.

Haha watch sellers bringing back the hype - DESPARATE!!!! Losing money are we??? Lifestyle going backwards??? Hahahaha

This is the type of video that is bad for you. Spend time with your family and enjoy experiences, you only need 1 watch.

Its like listening to a 12 year old explain something....🤡

@PhilReid

3 ай бұрын

thanks for the insightful observation! maybe some visual aids for you next time - I can carry a juice box and crayons for my next explanation. Maybe that'll really drive home the 12-year-old vibe you're picking up on

Shit.

Rolex aren't too great, there are much better brands out there but thats exactly what you buy with a rolex, a name, not an. Amazing watch

Prices a plummeting because nobody wants a Rolex anymore. They became very cliche and douchey.